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Mercado Libre promises to invest $ 175 million in Mexico

The online marketplace Mercado Libre affirmed that it will invest $ 175 million in logistics, shipping and marketing in Mexico, totaling $ 275 million if previous investments are considered.

With this they seek a greater weight in the second economy of Latin America , where their great rivalry with Amazon has been intensifying.

Mercado Libre promises to invest 175 million dollars more in the country

Mercado Libre , a firm that began operations in Argentina, reported that this investment would be added to the opening in February of two distribution centers in Mexico , which employ 3 thousand people, which had a value of 100 million.

Online and physical businesses have been accelerating their investment in eCommerce in Mexico , putting pressure on retailers to stay up-to-date with efficient logistics, stocked inventories, and fast, trouble-free shipping.

Marcos Galperin, founder and chief executive of Mercado Libre, affirmed that Mexico is one of the countries with one of the highest growth rates in the eCommerce industry . The intention is to accelerate the pace of this advance.

Strong competition in eCommerce

Mercado Libre is in direct and very close competition with Amazon , as both companies seek to win in the area of eCommerce in Mexico.

The Argentine firm obtained twice as much traffic in Mexico as Amazon last year , according to digital measurement company comScore.

But market research firm Euromonitor found that Amazon topped Mexico in business-to-consumer (B2C) sales last year by $ 13 million .

Mercado Libre reported revenues of $ 437 million in February , 70% more compared to the same period the previous year.

Amazon has made significant investments in Mexico since its official entry into the country in 2015. It has also been making more aggressive moves in other areas of Latin America, expanding its operations in Brazil, for example, where it plans to store and sell a wide variety of products.

Newest project of Sky Marketing ,dha peshawar  is a marvel of real estate and influenced by the CDA sectors of Islamabad.

Some investors believe that Amazon is not yet a threat to Mercado Libre , considering the aforementioned traffic data, as 47% of people in Latin America who bought online did so at Mercado Libre, compared to only 17% on Amazon, based on comScore data.

The race to attract consumers continues , with other players seeking to remain relevant in this competition.

For example, the retailer Mexicano (FEMSA) Economic Development said it will expand a pilot program using the Oxxo convenience stores and package delivery locations.

This expands an alliance between the American eCommerce company and the network of more than 16,700 stores.

It also signals increased investment by physical businesses in eCommerce , which is a fraction of retail sales in Mexico, but is thought to have great growth potential.

Results report

All this comes days before the Mercado Libre results report , which will present data from its first fiscal quarter, which ended on March 31, 2018.

Online and physical businesses have been accelerating their investment in eCommerce in Mexico , putting pressure on retailers to stay up-to-date with efficient logistics, stocked inventories, and fast, trouble-free shipping.

Marcos Galperin, founder and chief executive of Mercado Libre, affirmed that Mexico is one of the countries with one of the highest growth rates in the eCommerce industry . The intention is to accelerate the pace of this advance.

Strong competition in eCommerce

Mercado Libre is in direct and very close competition with Amazon , as both companies seek to win in the area of eCommerce in Mexico.

The Argentine firm obtained twice as much traffic in Mexico as Amazon last year , according to digital measurement company comScore.

But market research firm Euromonitor found that Amazon topped Mexico in business-to-consumer (B2C) sales last year by $ 13 million .

Mercado Libre reported revenues of $ 437 million in February , 70% more compared to the same period the previous year.

Amazon has made significant investments in Mexico since its official entry into the country in 2015. It has also been making more aggressive moves in other areas of Latin America, expanding its operations in Brazil, for example, where it plans to store and sell a wide variety of products.

Some investors believe that Amazon is not yet a threat to Mercado Libre , considering the aforementioned traffic data, as 47% of people in Latin America who bought online did so at Mercado Libre, compared to only 17% on Amazon, based on comScore data.

The race to attract consumers continues , with other players seeking to remain relevant in this competition.

For example, the retailer Mexicano (FEMSA) Economic Development said it will expand a pilot program using the Oxxo convenience stores and package delivery locations.

This expands an alliance between the American eCommerce company and the network of more than 16,700 stores.

It also signals increased investment by physical businesses in eCommerce , which is a fraction of retail sales in Mexico, but is thought to have great growth potential.

Results report

All this comes days before the Mercado Libre results report , which will present data from its first fiscal quarter, which ended on March 31, 2018.

Report

What do you think?

Written by Francoise Dieudonne

Newest project of Sky Marketing ,dha peshawar  is a marvel of real estate and influenced by the CDA sectors of Islamabad.

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